A startup needs a lot of effort and determination to make it a success. No doubt hard work will always be the key to achieve anything, but perseverance matters also. Gaining success with a single startup and getting a serial of businesses running smoothly are two different things. Becoming a serial entrepreneur requires experience, hard work, a different level of determination, and of course the ability to synchronize work and life. This is what many a time an aspiring businessperson fails to meet says David JC Cutler.
Starting a business is a different thing but achieving success in creating multiple enterprises can be quite challenging. Often people fail and get demotivated. Once, David JC Cutler, based on his expertise as an entrepreneur shared his experience of the frequently asked questions of the wannabe serial entrepreneurs. Sharing a few of them here:
Is formal education required to build a business empire?
If you have a formal education in the desired field that can be invaluable, but there are other ways of gaining skills related to your trade. A university degree or an internship can aid you in making progress in your business to a great extent but they happen to be very expensive and time-consuming. But if you can afford both then it can prove to be very helpful in the future. Free online customized courses are also available where you need not spend time and money on the whole course and only pay for what you want to learn.
The best way to gain expertise would be to learn your trade as a junior apprentice. In this way, you can gain hand-to-hand knowledge about the business you intend to start and take it further. Trade and vocational schools can be a good option to try. These days online self-learning through tutorial videos has helped many to upgrade their business skills.
Is an MBA mandatory (that’s what David JC Cutler was asked by most of the aspiring business personnel)?
According to him, an MBA can be advantageous for a person’s business career but it is not a mandatory criterion. Anyone can go back to school at any point in time, but the hands-on experience can prove to be as much worth as an MBA degree.
How to pick the right trade?
Well, that solely depends on your interest and expertise. Many business tycoons started by pursuing their interest in their hobbies and later turned it into a multibillion-dollar industry. So, choose what you believe would suit you the best.
How to gain the attention of the people in this huge business market?
It’s hard for anyone to gain prominence in this huge business market. To do so, you have to present something unique, that hasn’t been thought of or heard of before you offered it to everyone else. That’s a challenge but if you want to become a person who would be looked upon by many for inspiration, then that’s where you need to start.
When would be the right time to decide to start a chain of businesses?
If you are already running a successful business and the yearly turnover is quite good, then only you can think of using the profit earned from your present business to start another one.
How to even out work and life?
Work stress can take a toll on a person’s health. To maintain good mental as well as physical health, you need to lead a disciplined life with stipulated working hours. Healthy diets, regular exercise, seven to eight hours of sleep are some of the many things you have to incorporate into your routine.
First, you must prepare yourself to become the desired person. Then only you can taste success in your business in the long run.